Empower Advisory Group LLC Takes $304,000 Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Empower Advisory Group LLC bought a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,344 shares of the company’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PECO. Raymond James & Associates acquired a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at $935,000. Bank of New York Mellon Corp increased its stake in shares of Phillips Edison & Company, Inc. by 395.2% in the 1st quarter. Bank of New York Mellon Corp now owns 464,380 shares of the company’s stock valued at $15,970,000 after buying an additional 370,609 shares during the period. HighTower Advisors LLC increased its stake in shares of Phillips Edison & Company, Inc. by 113.0% in the 1st quarter. HighTower Advisors LLC now owns 21,301 shares of the company’s stock valued at $733,000 after buying an additional 11,301 shares during the period. Citigroup Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 7.6% in the 1st quarter. Citigroup Inc. now owns 53,264 shares of the company’s stock valued at $1,832,000 after buying an additional 3,775 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at $99,000. 83.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PECO has been the subject of a number of analyst reports. Wolfe Research cut Phillips Edison & Company, Inc. from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 5th. Mizuho lifted their price objective on Phillips Edison & Company, Inc. from $30.00 to $35.00 in a research note on Thursday, July 20th. Wells Fargo & Company initiated coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, May 23rd. They set an “equal weight” rating and a $31.00 price objective for the company. Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $32.00 to $36.00 in a research note on Thursday, August 3rd. Finally, The Goldman Sachs Group lifted their price objective on Phillips Edison & Company, Inc. from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.60.

Phillips Edison & Company, Inc. Trading Up 0.1 %

NASDAQ:PECO opened at $35.17 on Friday. Phillips Edison & Company, Inc. has a 1 year low of $27.07 and a 1 year high of $36.46. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 76.46, a PEG ratio of 3.35 and a beta of 0.66. The stock has a 50-day moving average price of $34.76 and a two-hundred day moving average price of $32.66.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th will be paid a $0.0975 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.33%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, October 13th. Phillips Edison & Company, Inc.’s payout ratio is presently 254.35%.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.